Current Affairs for BANK, IBPS Exams - 22 July 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 22 July 2021


Vice President addresses World University Summit 2021

  • M. Venkaiah Naidu, Hon'ble Vice-President of India inaugurated the World Universities Summit 2021 (WUS 21) organised by O.P. Jindal Global University on "Universities of the Future: Building Institutional Resilience, Social Responsibility and Community Impact".
  • In his address the Hon'ble Vice President said, "There are pressing issues facing higher education today as we embark on a path of recovery from the pandemic. Education drives the economy of the nation to chart the course of prosperity through the useful application of knowledge. We face a complex demand in education which is not only marked by large student numbers and the rural-urban geographic divide, but also by the unique diversity in our country. While our numbers and diversity are our strength, they also bring upon us the challenges of equity of access to education. We should aim to be 'Vishwagurus' in education. The ongoing pandemic has disrupted our lives and an estimated 1.2 billion children have been pulled out of classrooms globally. Today 32 direct-to-home channels are dedicated to providing online education but not all have access to online infrastructure.
  • Professor (Dr.) D.P. Singh, Chairman, University Grants Commission (UGC), "Today the Indian Education System is facing many challenges. One is from COVID-19 and the other is how to realise the vision and guiding philosophy of the National Education Policy (NEP) 2020. One of the themes of the Summit is to build institutional resilience, which has never been tested as now. The UGC has addressed critical issues like access, equity and quality of education and institutions have tried to leverage technology for integrated digital learning platforms, online access to education and more."

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Peru: Rural teacher-turned-politician Pedro Castillo wins presidential election

  • Rural teacher-turned-political novice Pedro Castillo has become the winner of Peru's presidential election after the country's longest electoral count in 40 years.
  • Castillo, whose supporters included Peru's poor and rural citizens, defeated Right-wing politician Keiko Fujimori by just 44,000 votes. Electoral authorities released the final official results on Monday, more than a month after the runoff election took place in the South American nation.
  • Wielding a pencil the size of a cane, the symbol of his Peru Libre party, Castillo popularised the phrase "No more poor in a rich country".
  • The economy of Peru, the world's second-largest copper producer, has been crushed by the coronavirus pandemic, increasing the poverty level to almost one-third of the population and eliminating the gains of a decade.
  • Castillo has promised to use the revenues from the mining sector to improve public services, including education and health, whose inadequacies were highlighted by the pandemic.
  • "Those who do not have a car should have at least one bicycle," Castillo, 51, told The Associated Press in mid-April at his adobe house in Anguía, Peru's third poorest district.
  • Since surprising Peruvians and observers by advancing to the presidential runoff election, Castillo has softened his first proposals on nationalising multinational mining and natural gas companies. Instead, his campaign has said he is considering raising taxes on profits due to high copper prices, which exceed $10,000 per tonne.


ADB in its Asian Development Outlook (ADO) Supplement has reduced India's economic growth forecast for this fiscal year from 11% to 10%

  • The Asian Development Bank (ADB) has reduced India's economic growth forecast for the current financial year to 10 per cent, from 11 per cent projected in April, on account of the adverse impact of the Coronavirus pandemic.
  • India's GDP growth recovered to 1.6 per cent in the last quarter of fiscal year ended March 2021, narrowing contraction in the whole fiscal year from eight per cent estimated in April to a revised 7.3 per cent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement.
  • "Then a second wave of the pandemic induced many State governments to impose strict containment measures. New Covid-19 cases daily peaked at more than 4,00,000 in early May, then fell to a little over 40,000 in early July." 
  • "Early indicators show economic activity resuming quickly after containment measures eased. The growth projection for FY2021 (ending March 2022), downgraded from 11 per cent in ADO 2021 to 10 per cent, reflects large base effects," it said.

Bank of Maharashtra and NABARD (NABARD) signed MoU

  • Bank of Maharashtra (BoM), a premier public sector bank in the country, has signed MoU with NABARD in a function organized at Head Office of the Bank.
  • The MoU signed in the presence of HemantTamta, Executive Director, Bank of Maharashtra & G.S. Rawat, Chief General Manager, NABARD, Maharashtra Regional Office, and Pune.
  • It is on a collaborative approach to enhance rural prosperity through convergence of the institutional lending & ongoing development initiative. 
  • The MoU has been signed by M.A. Kabra, General Manager, Credit Priority –Agriculture, FI & SLBC, Bank of Maharashtra &RashmiDarad, General Manager, NABARD, Maharashtra Regional Office, and Pune.
  • Considering the common interests in the specific area of promoting agriculture and rural development, Bank of Maharashtra & NABARD will work together to boost ongoing developmental initiatives which will benefit the Farmers, Farmer Producer Organizations, Joint Liability Groups, Self Help Groups, Rural Artisans, Weavers, Agri-preneurs, Agri Start-ups, Micro, Small and Medium Enterprise, etc. in the State of Maharashtra.

::Science and tech::

Russia to supply 21 MiG-29 fighter aircraft to India

  • Russia has handed over to India a commercial offer to deliver 21 MiG-29 fighters, a spokesperson for Russia's Federal Service for Military-Technical Cooperation said on Tuesday.
  • "The Indian Air Force staff received a tender request for the supply of 21 aircraft in 2021. The Russian side has transferred to Indian partners the commercial offer that is now being considered by the customer," spokesperson Valeria Reshetnikova told reporters on the sidelines of the MAKS-2021 international aerospace show.
  • Last year, India's council for defense purchases approved the acquisition of 21 Russia's MiG-29 fighters. The Russian federal service said in February that the Indian government also decided in favour of purchasing the aircraft.
  • The international aerospace show is taking place in the Moscow Region from July 20-25.


Australia to host 2032 Olympic and Paralympic Games

  • In summer 2032, the world's largest sporting event will head to Brisbane, Australia.
  • The International Olympic Committee announced in Tokyo that Australia will host the Summer Olympic games for the third time.
  • Brisbane will also host the Paralympic Games.
  • Adrian Schrinner, the lord mayor of Brisbane, said the effort to make Brisbane a host city began six years ago under his predecessor.
  • "Our purpose was to seek an amazing, once-in-a-lifetime opportunity for our region and for our city," Schrinner said in a message shared on Twitter celebrating the announcement.

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